AUSTRALIAN WEEKLY MARKET REPORT - The Schneider Group

Comment

A return to better prices this week, again led by currency fluctuations and a consistent intent by the Chinese indent buyers who take these opportunities to keep accumulating volume. Certified wool showed signs of improvement again, in particular well prepared stylish wool clips were well support by the Italian sector. Indian indent are just starting to wake up also after the recess period slowly adjusting to the new pricing levels. Japan steadily accumulating, however NM is a main focus for this market. Low yields and variable strengths are dominating the early part of the season as these regions are unseasonably gripped in drought conditions. The more traditional fine wool growing regions are soon to arrive hopefully providing us with essential high quality fine wool for the European market.

AWEX Eastern Indicator compared with 06/09/24

Eastern Indicator

Close: 1099

Change in % unchanged +0.07

Authentico Index Values

15 Micron

Close: 3265

Change in %: -0.1

16 Micron

Close: 2080

Change in %: +2.7

17 Micron

Close: 1829

Change in %: +1.6

18 Micron

Close: 1662

Change in %: +1.7

19 Micron

Close: 1540

Change in %: +1.9

Authentico Indicator

Close: 1944

Change in %: +1.3

Forecast

With only 32,000 bales on offer next week there is caution from traders to sell into smaller volumes for fear of not being to fulfill commitments. The currency is a touch stronger which will play a role in activity and the upcoming Nanging Wool Conference starting the week of the 23 September, will also assist the market to remain firm as the local Chinese market is on display to the world.

Auction offering – current week

Market	Sale	Offered	Sold	Passed In
North	S 11	8672	8111	6.5%
South	M 11	15394	14694	4.5%
West	F 11	3827	3553	7.2%

Auction offering – next week

Market	Sale	Sale days	Volume
North	S12	T / W	9477
South	M12	T / W	181.6
West	F12	T	4538

If you want to see the complete Wool Sales Roster click here.